Refer to dutch grove data. if dutch grove uses an aging of, Ask an Expert

Accounting

Dutch Grove Use the data presented below for Dutch Grove Corp. for the year ended December 31, 2004 to answer the problems that follow.

Sales (100% on credit) $950,000
Net credit sales 929,000
Accounts Receivable (December 31, 2004) 114,000
Allowance for Doubtful Accounts (before adjustment at December 31,
2004; credit balance) 1,000

Estimated amount of uncollectible accounts based on an aging analysis 10,000

Refer to Dutch Grove data. If Dutch Grove uses an aging of accounts receivable approach to estimate its bad debts, what amount will be reported as bad debt expense for 2004?

A. $2,280

B. $8,000

C. $9,000

D. $10,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M990356

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